Economic Report

New Zealand’s prime minister, Jacinda Ardern, has said she is resigning, in an unexpected announcement that came as she confirmed a national election for October. At the party’s first caucus meeting of the year on Thursday, Ardern said she “no longer had enough in the tank” to do the job. …

The market’s risk-on impulse favoured risk sensitive currencies including the NZD, CAD, NOK, SEK and of course the Australian Dollar. The US housing market continues to deteriorate, as shown by declining Existing Home Sales.Fed’s policymakers favour a deceleration of rate hikes, though the higher-for-longer stance remains unchanged. The AUD/USD pair …

The CAD/USD pair is trading at 1.3412 at the time of writing versus the previous closing at 1.3463, down by -0.40%. Next Wednesday, the BoC will hold its monetary policy meeting. Analysts expect a 25-basis points rate hike in line with market consensus. They point out the Canadian dollar may …

Gold prices stabilized on Friday, but were heading for gains for the fifth week in a row, as the weakness of the dollar and hopes of a slowdown in raising US interest rates boosted the attractiveness of the yellow metal, which represents a safe haven. And by 0308 GMT, gold …

Russia on Thursday warned that the Ukraine war will escalate if the West insists on providing Kyiv with longer-range weapons. Since the conflict broke out, the US has sent advanced and high-precision weapons and other military equipment to Ukraine to help the war-torn nation against Russian aggression. The aid included …

Gold price has already touched highest that were last seen in April 2022 above $1,900. The precious metal has a bright outlook in the year ahead.The precious metal is trading at $1918.70 per ounce at the time of writing versus the previous closing price at $19043.70. 2022 was a significant …

Gold prices rose on Thursday, as investors assessed the chances of the Federal Reserve slowing the pace of raising interest rates, while the rise of the dollar curbed the gains of the yellow metal. And by 0252 GMT, gold in instant transactions increased 0.1 percent to $ 1906.01 an ounce. …

Gold price snaps two days of straight losses, gaining traction on Wednesday, as the US dollar slides to eight-month lows around 101.528 but lately has recovered some ground and exchanged hands around 101.871. Another reason that keeps the XAU/USD underpinned is falling US Treasury bond yields, with the 10-year note …

The Japanese yen fell on Wednesday after the Bank of Japan kept interest rates very low, disappointing some investors who had hoped the bank would adopt more policy adjustments. The Bank of Japan surprised the market last month by raising its yield cap on 10-year bonds to 0.5% from 0.25%, …

United Kingdom’s Unemployment Rate data mainly pushed the British Pound’s latest rally. The GBP/USD pair is in the hands of the bulls on the front side of an hourly trendline ahead of key Consumer Price Index inflation data scheduled for release on Wednesday.The GBP/USD bears are eying a break of …